The local housing market saw a continued decrease in foreclosure rates in August, marking the 15th consecutive month of foreclosure deed decreases in the state of Massachusetts.

The Warren Group reported this week that 261 foreclosures were completed by lenders this August, a 54% decrease from the 566 foreclosure deeds completed in August 2012.

Two thousand, one hundred and thirty-five foreclosure deeds have been filed in the state so far this year, a 64% decrease in comparison to the 5,979 deeds filed at this time last year.

Timothy M. Warren, Jr., CEO of The Warren Group, is confident this is a result of a stronger market and a better economy.

“The local housing market has made great strides so far this year,” he said. “The decline in foreclosure activity coincides with significant increases in sales volume and home prices. Other factors include an improved economy, loan modifications and other alternatives to foreclosure.”

Additionally, foreclosure petitions are down more than 76 percent since this time last year and auction announcements have seen a decrease of over 38 percent since last August.